It is simplistic to term Modi government’s new restrictions on investments from neighbouring countries like China as protectionism. These curbs aren’t driven by takeover fears. It’s a tough diplomatic and strategic message to Beijing — coordinated with the US, Japan and Australia — for its irresponsible behaviour in the coronavirus emergency.
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A bit ironic that India imposes FDI curbs on China at a time when, according to a media report, “China sends 24 flights with Covid-19 medical supplies, 20 more this week”, and after “Indian ambassador to China, Vikram Misri, last week described facilitating India’s imports of Covid-19-related medical equipment and keeping the drug production supply chain open the “best” signal from China for bilateral ties.”
That is one way of looking at it. China has a case to answer to the world for Covid 19. Not just for the outbreak – whether it came from a wet market or a bio research lab – but for initially mishandling the response and failing to share the bad news with the rest of the world in good time. For that matter, the Trump administration hardly deserves an Olympic gold for how it has geared up to defeat the virus despite receiving so many timely intelligence inputs. 2. China’s geopolitical and economic force, like the Niagara Falls, is a fact of life that is especially salient for India. Working out a productive modus vivendi that makes a realistic appraisal of how the asymmetry between the two countries has grown since 1978 is the foremost challenge for Indian diplomacy. One is not sure if the meandering Special Representatives’ talks or the recent informal summits are yielding anything of value.